Jacobs Levy Equity Management Inc. Has $3.59 Million Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Jacobs Levy Equity Management Inc. lessened its position in Castle Biosciences, Inc. (NASDAQ:CSTL) by 72.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 134,782 shares of the company’s stock after selling 361,739 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Castle Biosciences were worth $3,592,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its position in Castle Biosciences by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company’s stock valued at $158,000 after buying an additional 604 shares during the last quarter. Invesco Ltd. raised its position in Castle Biosciences by 2.3% in the 4th quarter. Invesco Ltd. now owns 27,534 shares of the company’s stock valued at $734,000 after buying an additional 616 shares during the last quarter. Truist Financial Corp raised its position in Castle Biosciences by 4.6% in the 4th quarter. Truist Financial Corp now owns 21,303 shares of the company’s stock valued at $568,000 after buying an additional 928 shares during the last quarter. Covestor Ltd acquired a new stake in Castle Biosciences in the 4th quarter valued at approximately $25,000. Finally, Bailard Inc. raised its position in Castle Biosciences by 12.5% in the 4th quarter. Bailard Inc. now owns 9,900 shares of the company’s stock valued at $264,000 after buying an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CSTL shares. Lake Street Capital dropped their target price on Castle Biosciences from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Guggenheim set a $30.00 price target on Castle Biosciences and gave the stock a “buy” rating in a research report on Friday, March 28th. Robert W. Baird boosted their price target on Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Canaccord Genuity Group lowered their price target on Castle Biosciences from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Castle Biosciences currently has an average rating of “Buy” and a consensus target price of $37.50.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 1,236 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $21.52, for a total transaction of $26,598.72. Following the transaction, the insider now directly owns 74,627 shares of the company’s stock, valued at approximately $1,605,973.04. The trade was a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 27,454 shares of company stock valued at $553,030. 7.20% of the stock is owned by insiders.

Castle Biosciences Stock Down 4.2%

NASDAQ:CSTL opened at $16.32 on Thursday. The firm has a market capitalization of $471.19 million, a price-to-earnings ratio of 81.60 and a beta of 1.19. Castle Biosciences, Inc. has a twelve month low of $15.70 and a twelve month high of $35.84. The stock’s 50 day moving average price is $19.59 and its two-hundred day moving average price is $25.35. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Monday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). The business had revenue of $87.99 million for the quarter, compared to analyst estimates of $80.40 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. Equities research analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.